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Homepoint Financial Mortgage Review 2022

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Homepoint is a national mortgage lender based in Ann Arbor, Mich., founded in 2015. The company boasts more than 6,500 brokers and correspondent lending partners, which have propelled Homepoint to be the seventh-largest non-bank mortgage lender in the country. Homepoint is licensed to lend in all 50 states and the District of Columbia.

Who is this lender for?
  • First-time homebuyers
  • Low-income families looking to refinance
  • Service members and veterans seeking a VA loan
  • People looking to buy a second home or investment property

9/10  LendingTree’s mortgage lender rating

LendingTree’s mortgage lender rating is based on a 10-point scoring system that factors in several features, including digital application and closing processes, available loan products and online and in-person accessibility. LendingTree’s editorial team calculates each rating.

  1 pt =   0 pts

  1.   Application online 
  2.   Product info online 
  3.   Rates listed online
  4.   Helpful articles about mortgages/homebuying
  5.   Standard product offerings (Conventional/FHA/VA/USDA)
  6.   Special programs
  7.   Info about how to qualify for products offered online
  8.   E-closing availability
  9.   Licensed in at least 35 states
  10.   After-hours and weekend access to loan officers

Homepoint pros and cons


  Refinance program for low-income borrowers. Homepoint participates in Fannie Mae’s RefiNow program, which offers low-income borrowers a lower interest rate, lower monthly payment and appraisal credit during a refinance.

  Home equity line of credit available. Homepoint offers HELOCs, if you are looking to tap your home equity.

  Mobile app makes it easy to manage mortgage. Once you’ve taken out a Homepoint mortgage, you can use the lender’s mobile app to manage your payments and find out about any programs available to lower your monthly payment.


  No rates published online. You won’t find current mortgage rates on the Homepoint website, so you’ll need to fill out an application or contact a loan officer to find out what you might qualify for.

  No branches. Homepoint has moved away from retail branches, making it more difficult to get in-person service. There’s also no way to search for a loan officer on the website.

  Some loan products only available in select states. Homepoint provides loan products outside of its standard offerings but only in select states.

Homepoint borrowing requirements

Minimum credit score620 for conventional, FHA and USDA loans; 580 for VA loans
Minimum credit score 620 for conventional, FHA and USDA loans; 580 for VA loans
Minimum down payment 3% for conventional loans; 3.5% for FHA loans; 0% for VA and USDA loans
Available loan terms 10 to 30 years
Available loan types Fixed-rate and adjustable-rate conventional, FHA, VA, USDA, jumbo (in select states)

Homepoint mortgage rates and fees

Homepoint doesn’t publish mortgage rates online. The lender also doesn’t disclose its fees, but claims that its business model allows Homepoint to offer lower fees.

Homepoint mortgage products


  • Conventional loans. Adjustable-rate and fixed-rate loans available for as little as 3% down.
  • FHA loans. Adjustable-rate and fixed-rate loans available for as little as 3.5% down.
  • VA loans. 0% down payment adjustable-rate and fixed-rate mortgages available. Fixed-rate loan terms range from 15 to 30 years.
  • USDA loans. Available in 30-year fixed-rate loan terms only.
  • Jumbo loans. Available only in some states.


  • Conventional refinances. Available in 10- to 30-year loan terms.
  • FHA streamline refinances. Reduced documentation and underwriting requirements. The minimum required credit score is 580.
  • VA interest rate reduction refinance loans (IRRRL). Available without a home appraisal, income documentation or minimum credit score requirements.

Home equity

Special programs

  • RefiNow. This Fannie Mae program allows low-income families (earning at or below 80% of their area median income) to get a lower interest rate and save money on fees while refinancing. A credit score of 620 is required.
  • Homeowners insurance. Homepoint offers homeowners insurance through a partnership with Hippo Insurance. Customers can benefit from lower escrow balance requirements, reducing their out-of-pocket escrow costs at closing.

How does Homepoint compare to other lenders?

HomepointGuaranteed RateSoFi Home Loans
Minimum credit score 
  • 620 for conventional, FHA and USDA loans
  • 580 for VA loans
  • 620
  • 660
Minimum down payment 
  • 3% for conventional loans
  • 3.5% for FHA loans
  • 0% for VA and USDA loans
  • 3% for conventional loans 3.5% for FHA loans
  • 0% for VA and USDA loans
  • 5%
Loan products and types 
  • Fixed-rate and adjustable-rate conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Fixed-rate and adjustable-rate conventional
  • FHA
  • VA
  • USDA
  • Jumbo
  • Renovation
  • Fixed-rate conventional
  • Jumbo
Special programs offered 
  • RefiNow for low-income borrowers
  • Homeowners insurance
  • Down payment assistance
  • Interest-only loans
  • Student loan cash-out refinance
Lender ReviewGuaranteed RateSoFi Home Loans


Today's Mortgage Rates

  • 5.95%
  • 5.76%
  • 3.31%
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